The dollar index was last at 80.205

Good Morning,

- The dollar held steady near a fresh eight-month high against the euro, with all eyes on FED meeting and GDP data release.

- Asian shares: Japan's Nikkei 0.18%, Hong Kong's Hang Seng 0.80% (07:01 GMT), Korea's Kospi 1.00%, Australia's ASX 200 0.62% and China's Shanghai -0.09%.

- Federal Reserve officials probably won’t provide new economic projections, and Chair Janet Yellen isn’t scheduled to give a post-meeting press conference. The FOMC will probably trim monthly bond purchases for a sixth straight meeting, to $25 billion, in today’s meeting.

- US GDP probably rose at a 3 percent annual rate in the second quarter following a 2.9 percent slump in the first, according to economists surveyed by Bloomberg.

- The dollar index was last at 80.205, after touching a six-month high of 81.245 on Tuesday.

- JP Morgan on US dollar index: In a month some might label dull given tepid volumes , the dollar index is doing something somewhat interesting, says JP Morgan. "It is posting four consecutive weekly advances and its largest monthly gain since January. FX volatility has failed to decline on the month for only the second time this year," JPM notes. "Whether the dollar is threatening new highs or just nestling back into its 2014 range depends on which dollar index one references: DXY seems to be doing the former while JPM’s broader trade-weighted index including emerging market currencies is doing the latter. We still think advances in either index require higher US rates since there isn’t enough policy or data drama outside the US to push many non-dollar currencies lower," JPM argues.

- Ten-year German government bond yields, the benchmark for euro zone borrowing costs, sunk as low as 1.12 percent. That helped the dollar hit a fresh eight-month high against the euro, which dropped as low as $1.3401.

- The UBS consumption indicator climbed to 2.06 points in June from 1.80. The indicator recorded an average of 1.85 points in the second quarter. This indicates accelerated growth in private consumption compared with the first quarter, when the rise was a modest 1.2% over the previous year. Business activity in the retail sector, as surveyed by the Swiss Economic Institute (KOF), continued its upward trend in June.

- On Tuesday, the European Union and the United States announced further sanctions against Russia, targeting its energy, banking and defence sectors in the strongest international action yet over Moscow's support for rebels in eastern Ukraine.

- Argentina faced a race against on time on Wednesday to avert its second default in 12 years, needing to either cut a deal by the end of the day with "holdout" investors suing it or win more time from a U.S. court to reach a settlement. Argentine Economy Minister Axel Kicillof scrambled to New York on Tuesday to join last-ditch negotiations, holding the first face-to-face talks with the principals of New York hedge funds who demand full repayment on bonds they bought at a discounted rate after the country defaulted in 2002.

Have a nice Day!